Schiller explains himself

In a published report, Schiller expanded on what he meant by Instagram jumping the shark.

"Instagram is a great app and community. That hasn't changed. But one of the things I really liked about Instagram was that it was a small community of early adopters sharing their photographs," Schiller explained.

"Now that it has grow [sic] much larger the signal to noise ratio is different. That isn't necessarily good or bad, it's just not what I originally had fun with."

Just a few short months ago, Apple gave Instagram the App of the Year award as part of its Rewind 2011 promotion in December.